Saxo Bank is a Danish investment bank founded in 1992, providing online trading and investments. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA).
Saxo Bank is a global service provider. In the different regions, its subsidiaries are present in the form of separate legal entities. The services provided by each entity may vary slightly, particularly concerning their fee structures and the range of products available for trading. In this review, we tested Saxo Bank UK.
Saxo Bank is considered safe because it has a long track record, has a banking background, and is regulated by top-tier financial authorities.
We selected Saxo Bank as Best forex broker, Best web trading platform and Best broker for research for 2020, based on an in-depth analysis of 57 online brokers that included testing their live accounts. Check out the complete list of winners.
Saxo Bank pros and cons
The Saxo trading experience is driven by an excellent, well-designed trading platform. The research service is also superb, with Saxo’s proprietary research team constantly feeding trade ideas. Saxo boasts an extensive product portfolio that caters to the requirements of a wide range of traders, including heavy traders.
However, it’s worth noting that Saxo’s fees for bond, options, and futures trading are relatively high, which can be seen as a drawback for some traders. The minimum deposit is relatively high, ranging between $600-10,000 depending on your residency. There is no live chat customer support or 24/7 availability.